InfoSpace, Inc. announced that its Board of Directors has unanimously approved a definitive agreement under which InfoSpace will sell its online directory business, including the company’s online yellow and white pages services, to Idearc Inc., for $225 million in cash.

“The sale of our directory business is part of the Board of Directors’ ongoing review of our company and the opportunities available to enhance value for our shareholders,” said Jim Voelker, Chairman and Chief Executive Officer of InfoSpace. “In addition to unlocking the value of our director business that was not reflected in the Company’s market valuation, this transaction is extremely tax efficient, allowing us to capitalize on our net operating losses to significantly maximize the cash proceeds from the sale.”

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